Banks Board Bureau(BBB)
- Banks Board Bureau (BBB) is an autonomous body established by the Government of India. It started functioning from April 01, 2016.
- Banks Board Bureau (BBB) is a recommendatory body that has been formed with an objective of making recommendations to the Government of India and the Reserve Bank of India regarding:
- selection of heads – Public Sector Banks and Financial Institutions
- help Banks in developing strategies and
- help Banks in capital raising plans.
P.J. Nayak Committee and the Banks Board Bureau
The Banks Board Bureau (BBB) was formed on the recommendation of the “Report of The Committee to Review Governance of Boards of Banks in India” submitted to the RBI. P.J. Nayak was the head of this committee.
Members of Banks Board Bureau
- Former senior bankers can be the member of Banks Board Bureau.
- The members and Chairman of Banks Board Bureau are appointed by the Government of India in consultation with RBI.
Chairman of Banks Board Bureau (BBB)
Shri Bhanu Pratap Sharma is the current chairman of the Banks Board Bureau (BBB). He is the Former Secretary, Department of Personnel & Training, Government of India.
Members of Banks Board Bureau (BBB)
Banks Board Bureau (BBB) will have 7 members including the chairman. The constitution of BBB is:
1 Chairman;
3 Ex-officio member; and
3 expert members
Headquarters of Banks Board Bureau(BBB)– Mumbai. It is housed in Reserve Bank of India, Central Office, Mumbai.
Points to remember:
- BBB started functioning in 2016.
- The members and Chairman of Banks Board Bureau are appointed by the Government of India.
- Chairman- Shri Bhanu Pratap Sharma
- BBB has 7 members.
- Headquarters of Banks Board Bureau(BBB) is in Mumbai
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Source:
Report of The Committee to Review Governance of Boards of Banks in India